Trade News

Canadian startup Li-Cycle Corp. plans a third battery-recycling facility in North America, doubling its capacity in the region as the global electric-vehicle boom gathers momentum.

The center, to be located near Phoenix, will be capable of processing up to 10,000 metric tons of end-of-life batteries and battery-manufacturing scrap per year, the company said in a statement Wednesday. That’s equal to about 20,000 electric vehicles, according to Tim Johnston, Li-Cycle’s co-founder and executive chairman.

Li-Cycle is among a handful of companies looking to cash in on demand for the recovered materials, with companies including Tesla Inc. expressing concerns over nickel supplies and the lithium market showing signs of tightening. As the first generation of EVs nears retirement, a big quantity of electronic scrap is expected to be created.

The site will be able to directly process full EV packs without any dismantling. It’s specifically designed to handle larg…

Toyota Motor North America has recast its head of strategy to a new role in its information technology division and promoted another executive to take over a reorganized strategy function.

Doug Murtha, 55, who joined Toyota's executive ranks in 1992, once led the former Scion division, and most recently worked as the group vice president for corporate strategy and planning, is now the group vice president and chief business information officer for information technology, the automaker said Tuesday.

Toyota says Murtha in his new role will "support planning, prioritization and realization of new value opportunities," including "driving critical change management activity at the intersection of IT and business." He will report to Chief Information Officer Holly Walters.

Meanwhile, Tim Ingle, 52, who joined Toyota in 2002 and worked most recently as vice president for finance at Toyota Motor North America, has been promoted to a new role as group vice presid…

Top executives at the Detroit 3 and other Michigan business leaders have waded into the national debate over voting rights in the face of tighter restrictions signed into law in Georgia and new rules proposed in Michigan by Republican lawmakers.

On Tuesday, 37 CEOs and chairmen of some of the state's largest companies released a joint statement outlining broad principles they believe should be followed as Michigan lawmakers debate changes to election laws.

"Government must avoid actions that reduce participation in elections — particularly among historically disenfranchised communities, persons with disabilities, older adults, racial minorities and low-income voters," the statement reads. "Government has a responsibility to continuously improve and strengthen election administration, because public faith in the security and integrity of our elections is fundamental."

The list of signatories to the statement includes Ford Motor Co. CEO Jim Farley, General…

Canadian auto supplier Magna International expects global sales to hit as much as $45.5 billion in 2023, according to company slides posted before the company's investor day on Tuesday.

The company said it expects sales to grow to a range of $43 billion to $45.5 billion in 2023, up from $32.6 billion in 2020, it said in slides posted online.

In its annual report issued last month, the supplier said it expects global light-vehicle production to grow six percent on average per year from 2020 through 2023.

“We expect our sales to grow 10-12 percent on average per year over that time frame,” the supplier said in the report.

However, that was before the global microchip shortage grabbed a hold of the industry, idling plants around the world for weeks at a time.

In that report, the supplier said that more than 90 percent of its 2023 sales were already booked, including:

EV battery enclosures that contribute to the structure of the vehicle, pr…

DETROIT — General Motors plans to restart production at its Spring Hill, Tenn., plant Monday — one week earlier than expected — and canceled a production pause for the Chevrolet Blazer in Mexico, the automaker said Tuesday.

Last week, GM said it would pause or limit production at six North America plants throughout April, including Spring Hill Assembly, which builds the Cadillac XT5 and XT6 and GMC Acadia crossovers, and Ramos Arizpe Assembly in Mexico, which builds the Blazer. Automakers are grappling with a global shortage of microchips.

"GM's supply chain organization has made strides working with our supply base to mitigate the near-term impacts of the semiconductor situation on both Spring Hill Assembly and Ramos Assembly," spokesman David Barnas said.

GM shut down production at Spring Hill on April 12 and had expected to take two weeks of downtime.

The automaker had planned to idle production of the Blazer crossove…

DETROIT — Federal prosecutors on Monday asked a judge to appoint lawyer Neil Barofsky as an independent monitor to oversee the UAW as part of its corruption case settlement with the union.

Barofsky, a partner at law firm Jenner & Block, previously was appointed monitor to oversee Credit Suisse Securities and Credit Suisse AG following billion-dollar settlements, prosecutors said. He also was an attorney in the Southern District of New York and was appointed inspector general for the Troubled Asset Relief Program instituted by the U.S. Treasury after the Great Recession.

In a motion sent before U.S. District Judge David Lawson, prosecutors said they believed Barofsky "would dutifully fulfill the role as monitor in this case."

The UAW in February submitted its list of candidates, per the consent decree, which a spokesman on Monday confirmed included Barofsky. Prosecutors had the right to request additional candidates before selecting one and requestin…

The chief executive of Intel Corp. told Reuters on Monday the company is in talks to start producing chips for carmakers to alleviate a shortage that has idled automotive factories.

CEO Pat Gelsinger said the company is talking to companies that design chips for automakers about manufacturing those chips inside Intel's factory network, with the goal of producing chips within six to nine months. Gelsinger earlier on Monday met with White House officials to discuss the semiconductor supply chain.

Intel is one of the last companies in the semiconductor industry that both designs and manufactures its own chips. The company last month said it would open its factories up to outside customers and build factories in the United States and Europe in a bid to counter the dominance of Asian chip manufacturers such as Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co.

But Gelsinger said Monday that he told White House officials during the meeting that…